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Small Business Retirement Plans in Bloomington IN & Martinsville IN

Offering a retirement plan for your employees could be one of the best things you'll do for your small business. The benefits aren't just in the future, either—as pointed out by the Department of Labor, starting a retirement plan offers immediate tax benefits in the form of deductibles, deferred taxation, and tax-free growth. Small employers can also usually take advantage of available tax credits that help offset the creation and administration of their plan, making it both easy and affordable to get started.

Types of Small Business Retirement Plans

If you're going to start offering small business retirement plans, you need to decide what type of plan(s) are actually going to be offered. There are a few different choices, each with their own advantages for different types of business owners.

401(k) Plans

A 401(k) plan—named after its designation by the IRS—is a special type of retirement account that allows employees to contribute some of their earnings into a savings plan. The three main forms of 401(k) plans available are Safe Harbor, Automatic Enrollment, and Traditional, all of which have important differences for small businesses. We encourage talking to a certified financial professional prior to selecting a plan in order to ensure that it's right for your company's needs, both now and in the future.

*Federal income tax laws are complex and subject to change. Neither Nationwide nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions. 

Profit Sharing Plans

If your company's income is variable, you can opt for what's known as a "profit sharing plan." These plans accept contributions at the discretion of employers, and typically do not require a certain amount of contributions each year. This is especially useful for startups, who may not have funds to spare as they work to establish themselves and deal with the challenges of creating a new business.

While all plans are required to file a Form 5500 each year to report their performance, the plans are accepted for businesses of any size and can even be used by companies that have other retirement plans in place. A Hardesty Insurance agents would be happy to discuss these and other options with you.

Guarantees and protections are subject to the claims paying ability of the issuing insurance company.

1. "Choosing a Retirement Solution for Your Small Business." Accessed April 12, 2016. http://www.dol.gov/ebsa/publications/choosing.html.

2. "Form 5500 Corner." Accessed April 12, 2016. https://www.irs.gov/Retirement-Plans/Form-5500-Corner.

Our Location

Hardesty Insurance

5700 W State Road 46
Bloomington, IN 47404
Main office: 812-965-6433
Toll free: 800-276-9694

Our Providers

Testimonials

I've been with Hardesty Insurance for about 25 years now since about 1987. Ron provides me with clear and helpful responses to any problems I ever have, he is the best.
Ryan M.
I've been a client here for years. They handle my home, automotive, and medical insurance. The personal attention I receive from my agent is just great and very rare these days. I will definitely be renewing my policy.
Jason P.
I have been a client for 26 years. They are much more personal than other insurance companies because they are local people who are part of the local community.
Maxine B.
I dont write reviews often, or ever, but with Hardesty Insurance i think its necessary. I am new to the whole home insurance thing and Rita, step by step, walked me through all of my questions and answered them thoroughly. Rita responded right away to me and did such a great job overall. I highly recommend them!
Suzanne K.
My favorite thing about Hardesty is that they stay in constant contact with you. I recommend them all the time to friends and family.
Donna E.
Forthright and honest. I had a problem with a burst water pipe this past past winter and Ron and Rita helped immediately. We had the issue resolved within the week. I highly recommend Hardesty Insurance. I'm thinking of switching my auto insurance to them as well.
Steve F.
I've been with Hardesty Insurance for 2 years now. They provide me home owner's insurance and they are the best insurance agents I have ever had.
Kimberly E.
I've been with Hardesty Insurance a long time now, at least 20 years. They provide me with auto and home insurance and I couldn't be anymore pleased with the coverage.
Warren T.
Hardesty is a local company that is easy to contact and always will be there for you. They keep me updated with all my personal and business insurance needs.
Megan L.
Small business with owners that are very conscientious.
Donna D.
Ron and Rita run a great agency. They are always personable, always follow up and always make me feel like I matter. I have been a client of theirs for many years. They provide my homeowoner's, auto, and motorcycle coverage.
Lou M.
The agents at Hardesty Insurance are good, honest people. I am always so satisfied with their services. They deserve a 5 out of 5 stars for excellence!
Phyllis C.
We've had insurance through Hardesty for years. They have always been kind and helpful. We've had few claims and any questions or concerns we have had were always answered promptly.
Rebecca S.
I first heard about Hardesty Insurance from my wife who used them. I ended up switching over because of the convenience and excellent customer service. I would highly recommend them!
Riley C.
I used to have a policy with a different agency which I will not name... they were extremely expensive and not worth renewing with. I felt like a number. Basically, they were the opposite of Hardesty Insurance. I receive personable service and I always feel like a respected client, not a checkbook.
Sharon T.
Hardesty Insurance has competitive rates, which is what first drew me to them. However, their customer service is truly their hallmark. Rita in the office, and Ron, are great people who do their jobs superbly.
Jolene P.
Hardesty Insure will find the best insurance for your needs. They actually listen to your needs and then tell you in a straightforward manner what they believe the best package for you is.
Kyle M.
Hardesty Insurance is phenomenal. It's a company full of good honest people who are easy to deal with. They also have really reasonable rates.
Eric T.
The staff is really good about helping you no matter your situation. They are going to do their absolute best to find an insurance policy that is best for you
Benny J.